By: ICN Bureau
Last updated : January 08, 2021 8:48 am
he transaction is expected to close in the first quarter of 2021
PPG announced that it has reached a definitive agreement to acquire VersaFlex, a manufacturer specializing in polyurea, epoxy and polyurethane coatings for water and waste water infrastructure, flooring, transportation infrastructure, and industrial applications.
VersaFlex is a portfolio company of DalFort Capital Partners. The transaction is expected to close in the first quarter of 2021, subject to customary closing conditions. Financial terms were not disclosed.
“VersaFlex’s attractive segment mix with strong growth outlook, unique product offering, broad expertise, and manufacturing capabilities in polyurea and flooring coatings will complement and expand upon PPG’s current product offering,” said Ram Vadlamannati, PPG Senior Vice President, Protective and Marine coatings (PMC) and President, Europe, Middle East and Africa. “This acquisition supports PPG’s commitment to growing our industry-leading technology portfolio and customer touchpoints.”